Dual Rewards are now live on Arable Protocol (ACRE), Crown Capital (CROWN) & LiquidApps (DAPP)
Dual Rewards, liquidity mining rewards offered by both token project and Bancor, are now live on 3 pools: Arable Protocol (ACRE), Crown Capital (CROWN) & LiquidApps (DAPP). Bancor is matching up to 50k BNT on each of these token pools that are offering the following liquidity mining rewards: 6,150,000 bnACRE, 3,749,604 bnCROWN & 29,997,350 bnDAPP. The BNT rewards will be emitted with a 24-month schedule. See details here.
Almanak proposes providing liquidity and fees optimization recommendations
Almanak, a revenue optimization & risk management platform for DeFi & Gaming, has just presented their Economy Assessment Report, along with a related proposal in Bancor governance to offer regular fee and liquidity recommendations.
Almanak is proposing to optimize the protocol through agent-based simulations, in order to help the protocol reduce its deficit and generate more revenue. See details in the blog.
In our second DAO Discussion, the same proposal was also discussed with Bancor community members and representatives from Almanak. Listen to the recording here.
Proposal to burn BNT collected by the Bancor Vortex in the v3 vault when it reaches 1m
As per the DAO Discussion regarding the topic of whether to conduct a trial burn of BNT that has accumulated, a majority of DAO participants who attended the call came to agreement on burning BNT once the 1M milestone has surpassed. A proposal is now up on discourse for discussion and is expected to appear on Snapshot on Sep 25th 2022 for voting.
If you missed the call, listen to the recording here. You could also check out the original proposal to evaluate the effect of directly burning BNT here.
Proposal: Move v2.1 liquidity to v3
Simulator Tutorial Session 4–6
Session 4–6 of the Bancor Simulator Tutorials have now been completed. If you have missed them, check out the recordings on the Bancor Youtube channel where a playlist has been created for the tutorials.
Update: In total 12 of live tutorials will be scheduled at 12PM EST Monday, Wednesday, Friday from the week of 12 September for 4 weeks (instead of 9 tutorials for 3 weeks) around the “Fundamentals of Bancor V3 Simulations” with Mark Richardson and Mike Casale, allowing everyone to learn how to use the simulator and create their own simulations.
The vBNT burn continues with over 15k of vBNT being burnt daily on average in September. Cumulatively, this is amounting to over 333k vBNT burnt so far for September and over 2.8M vBNT for all of 2022. It is important to note that the protocol has bought ~910k worth of BNT in v3 that has not yet been swapped for vBNT to be burnt.
To help rebalance token reserves on the protocol, the Bancor DAO previously increased the rate at which fees are used to buy $BNT and burn $vBNT. 90% of fees on Bancor v3 are being used to buy $BNT (as of July 20th), while 100% of fees on Bancor v2.1 are being used to buy $BNT and burn $vBNT.
The chart below shows the amount of vBNT burnt per month from network fees collected in Bancor v2.1. Network fees collected in the destination token as part of a swap are used to buy BNT, swap BNT for vBNT, and burn vBNT. The figure below does not include the Bancor v3 vortex which is currently only collecting network fees and buying BNT (happens atomically as part of a trade on v3).
The cumulative amount of vBNT burnt year to date from network fees collected in Bancor v2.1:
The chart below shows the BNT that has been bought from network fees collected in Bancor v3. Since the Bancor v3 vortex is not yet implemented, this BNT has yet to be utilized for swapping to vBNT and then burning the acquired vBNT.
- Added Binance wallet to Fiat Gateway Providers page
- Move slippage settings to trade widget
Posted on Bancor DAO Discourse
Level 1 Proposals Under Review:
Join the Bancor community call this Sunday September 25th at 3PM UTC on Telegram Voice for more community updates and discussion.
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